* The SP has consolidated in the 1100 to 1150 range for a few days.
* The daily RSI peaked at 83 on 11-Feb and is on the way back down. That is, NCM is overbought.
* Gold has had a good run and has taken a breather last night, at least for the short term.
* The XJO has had a strong run, now hitting resistance.
* I am not ready to close my longs in BHP, CBA, FMG, TLS and WPL. However, I thought that it may be a good time to tentatively start building up a few short positions.
* My morning broker report recommended it as a short opportunity. I read the broker report Terms and Conditions, and discovered that I cannot repeat their chart nor commentary here.
* I would have preferred it if the SP had reached previous resistance at 1370. However, perhaps all the ducks cannot line up this time.
